Breaking News in association with Money AM
Thursday, 2nd September 2010
5:02pm
END-OF-DAY REPORT: Headline shares closed a range-bound session flat, with the market struggling to find a focus as profit-takers took the cream off yesterday's strong gains, with Wall Street lacking momentum.
At the close of play, the FTSE100 was up just 4.63 points at 5,371.04 with the FTSE250 ahead 80.08 points at 10,140.97 and the FTSE Smallcaps 24.42 points higher at 2,840.
NEW YORK
US stocks were mixed in late morning trade as investors mulled pending home sales and factory orders data.
Approaching the close in London,...
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3:47pm
African Barrick Gold downgraded to hold from buy at Citigroup, target price stays 675p. Antofagasta cut to sector-perform from outperform at RBC.
Admiral upgraded to buy from neutral at UBS, target price upped to 1752p from 1387p.
BAE Systems raised to buy from hold at Investec, target price lowered to 340p from 350p.
Britvic downgraded to neutral from outperform at Credit Suisse, target cut to 510p from 530p.
CRH downgraded to neutral from outperform at Exane BNP Paribas. CRH raised to neutral from underweight at JP Morgan.
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12:47pm
MIDDAY REPORT: Headline shares were little changed in midday deals, with the market struggling to find a focus as profit-takers took the cream off yesterday's strong gains, with all major sectors trading mixed.
At high noon, the FTSE100 was down just 4.06 points at 5,362.35 with the FTSE250 ahead 35.8 points at 10,096.7 and the FTSE Smallcaps 3.57 points higher at 2,819.15.
NEW YORK
US futures were treading water ahead of jobs and housing data, investors wary that yesterday's rally may have been overdone.
Dow Jones...
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9:17am
MORNING REPORT: Headline shares were modestly weaker in early deals today, with the market struggling to find a focus as profit-takers took the cream off yesterday's strong gains, with miners bearing the brunt of losses.
At 8:30am, the FTSE100 was down 16.05 points at 5,350.36 with the FTSE250 off 1.3 points at 10,059.6 and the FTSE Smallcaps 2.08 points higher at 2,817.66.
US & ASIA
In the US last night, the Dow jumped 255 points at 10,269, the Nasdaq Composite added 63 points at 2,177 and the S&P500 gained 31...
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8:32am
Pharmaceutical firm AstraZeneca has been given European Commission approval for Seroquel XR as an add-on treatment of major depressive episodes.
The EC's 'positive decision for approval' follows a positive recommendation by the Committee for Medicinal Products for Human Use in April.
AstraZeneca will now move forward in obtaining local approvals.
This is a 30-day process in the 17 member states that took part in the original mutual recognition procedure.
For other member states timelines will vary.
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8:32am
Household and personal care products provider McBride reported a 38% rise in adjusted operating profit to £50.0m from £36.2m for the year to June 30.
Revenue was up 2% to £812.2m from £792.4m, despite the effect of exiting low-margin contracts primarily in Spain.
Adjusted operating margin rose to 6.2% from 4.6%, driven mainly by lower input costs, purchasing savings and a greater proportion of higher margin core category sales.
Adjusted diluted earnings per share were up 41% to 18.1p from 12.8p.
The group raised its final dividend...
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